Altisource Portfolio Solutions (NASDAQ:ASPS) Coverage Initiated at StockNews.com

StockNews.com initiated coverage on shares of Altisource Portfolio Solutions (NASDAQ:ASPS) in a research report released on Wednesday morning. The firm issued a sell rating on the business services provider’s stock.

Altisource Portfolio Solutions Stock Up 1.8 %

Shares of NASDAQ ASPS opened at $0.69 on Wednesday. The business’s 50 day moving average is $0.77 and its two-hundred day moving average is $0.88. Altisource Portfolio Solutions has a 52-week low of $0.43 and a 52-week high of $2.11. The firm has a market cap of $18.82 million, a price-to-earnings ratio of -0.49 and a beta of 0.87.

Hedge Funds Weigh In On Altisource Portfolio Solutions

Several hedge funds have recently bought and sold shares of ASPS. Geode Capital Management LLC grew its position in Altisource Portfolio Solutions by 8.9% in the 4th quarter. Geode Capital Management LLC now owns 199,824 shares of the business services provider’s stock valued at $131,000 after acquiring an additional 16,390 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of Altisource Portfolio Solutions during the fourth quarter worth about $302,000. Finally, Nantahala Capital Management LLC boosted its stake in shares of Altisource Portfolio Solutions by 95.1% in the fourth quarter. Nantahala Capital Management LLC now owns 2,128,284 shares of the business services provider’s stock valued at $1,399,000 after purchasing an additional 1,037,275 shares during the period. Institutional investors and hedge funds own 41.36% of the company’s stock.

About Altisource Portfolio Solutions

Altisource Portfolio Solutions SA operates as an integrated service provider and marketplace for the real estate and mortgage industries in the United States and internationally. It operates through Servicer and Real Estate, and Origination segments. The Servicer and Real Estate segment offers property preservation, inspection, title insurance and settlement, real estate valuation, foreclosure trustee, and residential and commercial construction inspection and risk mitigation services.